[A] 34-story apartment skyscraper more than twice as tall as most other buildings in the historic core of downtown L.A.

To be built at a cost of nearly $150 million, the apartment and retail complex called Broadway @ 4th would house 450 units and fill in a key block in gentrifying downtown L.A.

Friday:
• At 8:30 AM ET, the second estimate of Q4 GDP from the BEA. The consensus is that real GDP increased 2.5% annualized in Q4, revised down from the advance estimate of 3.2%.

• At 9:45 AM, Chicago Purchasing Managers Index for February. The consensus is for a decrease to 57.8, down from 59.6 in January.

• At 9:55 AM, Reuter's/University of Michigan's Consumer sentiment index (final for February). The consensus is for a reading of 81.2, unchanged from the preliminary reading of 81.2, and unchanged from the January reading.

• At 10:00 AM, Pending Home Sales Index for January. The consensus is for a 2.7% increase in the index.